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Markets Open Slightly Up After Yesterday's Sell-Off

Wall Street opened a little higher this morning, following a global rebound overnight and ahead of the Fed's two-day meeting, which traders hope will give some clarity on the future of the economy.

In the first 30 minutes of trading, the Dow is essentially flat.

The broader S&P 500 is about the same and the tech-heavy Nasdaq is up about one-quarter of 1 percent.

The Fed begins its two-day meeting today and is widely expected not to raise interest rates, keeping them at their record near-zero level.

Later today, the Federal Housing Finance Agency releases its July home price index, showing which way prices are going. Some of the more bearish forecasters expect home prices -- already down 30 to 40 percent from their 2006 highs, could drop another 25 percent.